in china the ballpark statistic. it is definitely part of this process of chinese search for meaning with the collapse of the thoughts. buddhism is large. the other question down front? >> yes, sir. >> wait for the mic if you could. >> this may be a follow-up to the question just asked but i am wondering if there is increasing pressure from chinese business men to perhaps enter into joint venturing, if you will, with the american business to help their economy and likewise is there more entrance in our country in american businesses. >> the trading relationship between our countries has been started to become robust in the 1980s. it really took off in the 1990s. it exploded after 2001. that said, the business community in america is split on how it views china. in the past, it used to be after the collapse of the soviet union and tinman square it was the main thing that kept the relationship on an even keel. now, back to the question if you are a high technology manufacturer and you want to do business in china. the

as regards china, the u.s. pursued a two-pronged strategy, seeking to engage china across all domains, economic in particular, but diplomatic and others, and at the same time, working at our allies and partners in maintaining our own forces in the region to preserve a balance of power that was favorable to our interests and the security of our allies. the goals of that policy were to deter thetability, to possibility of aggression, while waiting for engagement to work its magic. the u.s. hoped in effect to ,btain and to transform china to encourage its leaders to see their interests as lying in the preservation of that order, and to set in motion processes that would lead eventually to the economic and political liberalization of that country. as in europe, so also in asia. our ultimate aim was to build a region whole and free and open -- an open, liberal region. it has become important -- a -- apparent that this has not worked. china is far stronger, far richer, but it is more oppressive domestically than at a

a view from china. in other news, federal reserve officials basically have given a stronger signal that they may shift away from the post financial crisis investment policy. they also said they see considerable uncertainty about the effects of a possible stimulus from the donald trump administration. but they said they do not know how quickly there will be phasing out of investments. the owner of krispy kreme will buy panera bread. that is as it expands its empire in the us market. panera has about 2000 bakery cafes in the us. fresh offerings appeal to health—conscious consumers. india. the next instalment of our week—long series looking at the property industry. first it was undeclared wealth, now it is property. india's prime minister is on a mission to stamp out illegal financial activities, as well as tax evasion. but while last year's tax bank caused a lot of inconvenience for many indians, a crackdown on real estate may actually help them. like many indianfamilies, estate may actually help the

going to china, enabling us to do better in china. china has a consumption upgrade. millennial's becoming more globalized interviews, and taste , and in the way they consume. way for alibaba to take advantage of it. caroline: what sort of goods are we talking about? i am thinking a crackdown on luxury items will hit the french juggernauts. what will be sold in the u.s. to china? what we seeing with platforms is that you see apparel, fashion goods, mass-market price points. you see beauty products, health ,are products, gadgets electronics, a variety of things are doing well in china that were originally designed in the u.s.. they may have been manufactured in china, but were designed in branded in the u.s.. caroline: let's talk about another of your key investments, xiaomi. the way and having very powerful smartphones at a cheap price point. it seems that the competition is hot at home. when you see the company going? hans: four xiaomi, two fronts. they are the number two and number three in india now. initially to buy a phone in india, you had to go online to buy xi

the eu is already china's main trading partner, and china is the eu's second-biggest after the u.s. the trade comes to more than $1 million a day. the mantle ofn facilitating global trade. currently, finland's board members say they may not share the same values, that we share the goal of free trade. xi jinping has said that a prosperous and stable europe is conducive to the global economy. he has made statements like this, especially since the u.k. voted to leave the european union. haidi: this is not a bilateral relationship we have necessarily spend a lot of time looking at in the past. tell me about this relationship between finland and china. xi jinping's visit is a chance for china to resurface a relationship between china and the nordic reason. this is the first visit in my than 20 years, the last time was 1995. he will meet with finland's president. on this bloomberg chart, we can see the white line that shows finland's exports to china. it just crossed over with the blue line, which is china's exports to finland. posted a, finland trade surplus with china last 2002.the firs

situation --y need some time for china a tough situation. they need some time for china. germany has a weak position in terms of the nato, how much they should be contributing. south korea, another huge trade surplus against the u.s. i would imagine that germany would be in the spotlight. shery: thank you so much for joining us, head chief asian economist. and our currency editor, thank you so much. the u.s. backs away from enabling china. >> it is 7:30 here in hong kong, happy thursday. it is easter weekend. we are 30 minutes away from asia's first major market open. friday, 7:30our p.m. wednesday here in new york where markets closed down, the s&p 500 down about 1/3 of a percentage. i am ramy inocencio in new york. shery: i am shery ahn in hong kong, you're watching "daybreak asia." let's get first word news with courtney collins. >> president trump says he will not brand china currency manipulator. he is changing a core campaign promise and blames a strong u.s. dollar for changing competitiveness. u.s. 10 year bond yields and the dollar fell after the report saying the

for years the united states has looked at china china is the only country to curb the behey yor. instead china has chosen the bully south korea for defending itself from the north korean threat. china is doing all of this to stop defensive system. i welcome the trump administration on the issue of north korea. as these discussions continue the united states should be clear while we earnestly seek cooperation we do not seek such cooperation at the expense of our vital interest. we must not land not bargain over alliances with japan and south korea. as its behavior towards south korea indicates china has acted less like a responsible take holder and more like a bully. its rapid military modernization, provocations in the east modern sea signals an increasively pattern of behavior. despite efforts to rebalance u.s. policy has failed to adapt to the scale and velocity to rules based order. that failure is called into question the credibility of america's security commitments in the region. the new administration has an important opportunity. for example, i believe there is strong mer

and netflix trying to break into china. an incredibly contentious investor -- wells fargo investor meeting in seattle. more members narrowly surviving that shareholder vote. this is daybreak asia live from bloomberg's u.s. and asian headquarters. i am betty liu where it is just after 7:00. >> i am yvonne man. we will hold onto the big gaps we saw after the french election. we are talking about hitting records again on wall street. it seems earnings was a big driver today. earnings as well as the anticipation we will get and be delivered this immense tax reform which includes a big tax rate,he corporate that will bring the animals. back to the business world. we have seen it so many times, the anticipation of this is enough to drive the markets to these records we have seen. will we buy the rumor and sell the news? we will see, come tomorrow. yvonne: will it be just tax cuts, or permanent tax reforms that the democrats can side with? that will be key. let's see how asian markets are faring. wall street and new zealand, share

china continues a strategy to control this t south china sea. i testified that china was militarized in this international waterway by building bases on seven chinese manmade islands. despite subsequent chinese assurances at the highest levels that they would not militarize that support long-range weapons. dmien's militarization is real. i'm also not taking my eyes off of russia. it is on success it days for the first time since 2014. russia continues to modernize and exercises conventional and nuclear forces in the pacific. despite the reasons for cig inform cant chal lens, since my last wort to you we strengthened alliances and partnerships chls working on shared security threats like north korea and isis is a key component of our regional strategy. our treaty alliances, japan, the republic of korea are joint force efforts. we have also advanced important partnerships they are viewed that has helped underwrite peace. there is more work to do. we must be ready to confront all challenges from a tradition of strength and with credible come back p

of rules in china? >> less than 2% of the total market is pickup trucks. the with that, it is fourth-largest in the world become and what we have seen is the government is thinking about potentially changing some of the restrictions, which we think would grow the customer appeal for pickup trucks. a couple of provinces have done that already. andresearch we have done the initial orders we have on the new f-150, we think it is a huge opportunity to continue to build the ford brand in china. david: that was tom mackenzie's interview with ford ceo mark fields. let's look at the barriers to trade. is a former vice president for chrysler northeast danger -- northeast asia, bill russo. thank you for coming on the program. i want to get started with pickups in china. china 7-8 years. not once did i see a pickup truck. i wonder what your general thoughts are on that idea of introducing pickup trucks in china. >> everybody as looking for the next big thing, and you want to get there first, so what ford is doing

this has offended china. it is india and the united states ganging up against china. that is one of the reasons why tensions are higher today than they we re tensions are higher today than they were a couple of years ago. and your anxieties as well, about kashmir, why we should be more concerned, even more concerned now than we have beenin even more concerned now than we have been in the past? the united states and india, going up against china, china has forged closer and closer to pakistan. it is a counter ganging up to pakistan. it is a counter ganging up against india, with china and pakistan. what has happened is that this economic commodore, as it is called, a massive corridor through disputed territory, as mandated by the united nations. the entire area of kashmir is disputed, as far as the united nations is concerned. so, driving a highway, and economic corridor through territory which is disputed, is something which obviously india is not happy about. he has been mentioned already in the last couple of minutes, you can't avoid that, we must talk about the uni

in the next few hours china's president xijinping in the next few hours china's president xi jinping will travel to the us for his first meeting with president trump. he had some very harsh words for china during his election campaign. countries have their opinions on how the talks should go. our correspondence took to the streets of washington and beijing to find out more. i , ivory, cooperation, maybe let us offer little bit of our debt to them. shall we go down here? president trump likes to talk tough on china. throughout the election he promised to bring jobs back to the us and put america first. on the other hand, xi jinping us and put america first. on the other hand, xijinping says us and put america first. on the other hand, xi jinping says that free trade is the answer and that this is what will bring jobs to china and the us. what do you think president trump should be saying to his chinese counterpart? i'm sorry. i apologise. i have been perhaps unfair to you. i'm one of those people who thinks we should make more here. they are not a true democracy. that's the worst thin

air china h-shares, likewise china southern and china eastern. the stocks that fell in yesterday's session 3% bank branch under suspicion of wrongdoing. it is believed to be in relation to fraudulent bank bills. this is a throwback that instrument used in china that can be sold on to banks and financial institutions. apparently the fraud is to the tune of 3 billion yuan and affects private clients and other banks. they are looking into that. they are setting up a working group to assist police. coming up, ambitions shifting in china, and we speak to the country's chairman live from the auto show. ♪ rishaad: there we go. , beautiful day in hong kong looking across victoria harbour. counting down to the start of the trading day in hong kong and shanghai and shenzhen, futures contracts suggesting a slight movement to the downside. asia-pacific stocks overall falling back, a rather unconvincing session for u.s. equities and at in the headlines after that snap election called by prime minister theresa may. i am rishaad salamat from bloomberg's asia

or, perhaps, it is the fact that the us has put on china to call ita that the us has put on china to call it a currency manipulator. either way, china is the one to watch you and the key ally that the us may have in solving this. staying with north korea — the russian president, vladimir putin, has called for the resumption of six—party international talks. he was speaking after talks in moscow with the japanese prime minister. both leaders called on all sides to show restraint. we call on all countries involved to refrain from military rhetoric. we see it as a girl a call for the resumption of six country talks. translation: president putin and i have agreed that japan and russia will continue to co—operate closely and appeal to north korea to fully comply with the un security council resolutions and avoid further provocative actions. also making news today — human rights officers in the philippines have discovered a secret lock—up cell in a police station in the capital, manila. it was hidden behind a bookshelf, where 11 people were being held. the undocumented prisoners

/china relationship. it was a phrase directly borrowed from the bay beijing had hoped to approach it. we will see exactly how that changes when the president lands and the two are set to meet for the very first time. president has said it will be a difficult conversation, of course, given all of the criticisms that each government has been lobbing at each other. we're told by the white house here's what's on the agenda. first and foremost, north korea, defuse ugg the situation with china's neighbor as it gears up its nuclear ambitions and continues to build up this program and fire test missiles of varying degrees. then, trade and tariffs. of course that has been a controversial talking point of the president. finally, the south china sea but we are told by the white house not to expect any resolutions on any of these issues in one day. this is merely establishing the relationship going forward. >>> president trump's first face to face meeting with president xi could be tense, as kayla noted. the presiden

i want to make one comment about china that we talk about this bilateral with china. but because of supply chains are trade with china isn't just china. its factory asia. some of the trade deficit with china is because just like with factory north america and europe as factory europe, they have factory asia. some parts and components go to china, assembled, come to us but because trade is measured in gross, not in value added terms, we end up with a really big deficit with china. it's quite a bit more complicated than that. >> one of the things about your question, what struck me is the fact that at least the draft that has been circular of what's going to be studied on these trade deficits, it really missed a whole bunch of factors that were being discussed here. it was all about different aspects of trade policy, and some of these broader issues which have a bigger impact wasn't even in the list of things to look at. one question i have is, is this going to be a real from the bottom up look at trade deficits and understand them in the sense it was discussed here, or

the us has a big deficit with china. we'd like to see china open

but i am concerned about china's bases in the south china sea. that complicates the anti access air, the now problem we face if we're called upon to conduct operations against china. >> great. i'll look forward to visiting with you in the classified setting. i yield back. thank you. >> mr. muscleton. >> thank you, mr. chairman. admiral, thank you very much for joining us here today. i was the gentleman who asked admiral -- vice chairman selva about the intermediate nuclear forces treaty, the treaty that president reagan signed in the mid 1980s with the soviet union. i wanted to start with that following on my colleague's questions. what has been our response to russia's violation of the treaty? >> sir, i don't know what our -- >> i'm not aware of a response, either. >> i know that someone brought it up. >> i'm not aware of any response, either. typically, when one party to a treaty violates the treaty, what do you try to do? you try to hold that party accountable. so there are other options than simply with drawing from the treaty ourselves, is t

and china proper. in the first two years of the -- 2.5 years of the civil war, the nationalists appeared to have the upper hand. in spring of 1946, the nationalists went on the offensive in manchuria and drove the communists from its southern half, where one of china's main industrial centers was located. one that was wanted by the japanese and where the land was agriculturally productive. one of the things the soviets did was to take back war reparations. the nationalists also made advances in north china and even succeeded in driving the communists from their main base area from the communist capital. but in the summer of 1947, it begin to wane, and they were on the defensive. the important factors were the severe lack of ammunition, that curtailed their power. the economy was integrated as israel -- as a result of hyperinflation. the destruction of transport networks and food shortages, in part because international trade things had been upset by the second world war in east asia, which also affecte

china urging coma on both sides. the lira jumping as president erdogan claims sweeping new powers, the biggest changes in turkey. dump in ans data hour, looking at first quarter growth, 6.8%. let's bring up this chart, #6839 showing the potential for further gdp growth looking ahead, the blue line indicating that target the government put andlace, anticipating 6.5% 2019, a six .8% handle, but the data dump continues and we have industrial output, retail sales, and fixed asset investment, all of that out in 60 minutes. not exactly the most surprising of indicators. we were expecting that 6.8% for a second quarter, but the question is whether it is sustainable, and also at what cost good we had credit numbers showing momentum in terms of money supply, shadow banking still running hot and china, so we dig deeper into that within the next two hours. we are 30 minutes away from the open in china, that singapore, taiwan, malaysia coming online and sophie taking a look at how markets are faring. a thin session with a number

-china relations. they are expected to drop -- expected to address such issues like global trade, one china policy, and climate change. joining me is kevin rudd. he was the prime minister of australia from 2007 to 2010 and again in 2013. he now serves as the president president of the asia society

china does. north korea is so important to china. they've got to say, we need you to give back, step away from the lines you're drawing. >> just to underscore the point, somewhere between 90% and 100% of north korea's economy is because of china. >> i've heard those statistics, right. >> it really is. >> true economic power, right? >> that's what it is. >> leverage. >> so at this point, the campaign was all about being tough on china. peter navarro, who has been appointed by president trump, is all about how china has been abusing us for a long time. is that the battle to fight today, or is it a different battle, to say, we really need you to work on the north korea stuff and then we'll talk about trade? >> you know, i think they're going to try to tackle both. but the challenge is going to be, as ialways is wi china, how do you prioritize? when you go into ultimately what is a negotiation, you have to take and you have to give. i think it is unclear yet where they intend to take and give. everything i've heard is on north korea, the

it is a sign of the topsy—turvy world we live in where china and russia are urging calm. 0ne where china and russia are urging calm. one of the most interesting things that i saw today, when you look for information about donald trump, it is in his tweets. he did several u—turns. 0ne trump, it is in his tweets. he did several u—turns. one of them was accusing china of being a currency manipulator. he said, let's move on from the currency manipulation malarkey, we need to work together on north korea. 0f malarkey, we need to work together on north korea. of course, china has a huge role to play. it is supporting north korea in terms of providing food, energy and resources . providing food, energy and resources. if the us decided to act unilaterally, china would absolutely have something to say about it. it is crucial for trump that china is getting involved. we are led to believe if this had not been a failed missile test but a nuclear test, that would have been beyond the pale for china, even though the consequences could be enormous if a destabilised north korea were to spill over i

and china? >> reporter: we are hearing president trump praise china specifically over one thing and that has to do with north korean coal imports, so in that same conference he said china has deflected a fleet of coal laden ships coming from north korea to china, and that's a policy they have had in place since the middle of february and that's a key source of currency, so that would be the kind of economic leverage that the trump administration wants to china to use and the kim jong-un regime to stop using its nuclear program, but just this morning we got trade data in the first three months in 2017 despite the ban, it actually went up almost 40%. that's not what the trump administration wants. when they hear those numbers it will be very interesting to hear how the administration acts. however they are still trading lots and lots to north korea to the tune of $1 billion. >> and keeping north korea on a lifeline, but others would say keeping millions of people off china's border also. >>> start

china hasjust invested heavily in player development, china hasn'tjust invested heavily in player development, but also in the business of snooker. the country stages some of the most prestigious and lucrative tournaments in the world. i think itjust shows the significant growth in snooker generally. and globally, particularly here in china, it is... you know, that growth has been consistent and our events are getting bigger and bigger. 0bviously delighted to see that happening. it is great for our players. they are playing for huge prize pools now. the one tournament china would love to stage is the world championship. it has been held in sheffield since 1977 and the city has a deal to keep it there until 2027. but, in the future, could the tournament ever move abroad? you can never say never. myself, i am passionate about it staying in sheffield, because that is what i remember, where the game starts. realistically, can we say it is going to be there in 50 years' time? i have no idea. but what we would say is, it is a rather clever commercial twist to say no. because the message is, you can

china. again, this is not something that is isolated between south us against north korea. and all kinds of things going on. china has a pivotal role to play, probably more than we do. i look for to them having those negotiations on mar-a-lago this weekend. host: are those topics you believe they will address? guest: those will be really strong topics, i believe. korea talk about north launching another bomb, another test, this is destabilizing to the area. for a in a resolution system only focus at north korea. it is not aggressive. it is protecting our allies in south korea and the 28,000 troops we have there. host: if you want to join in on the conversation with our guest about north korea and other call in, post on .witter a guest: i think he wants to be mechanized in the world as a legitimate superpower. of asiane chair pacific affairs and there, was brought up who is trying to hurt north korea? i cannot think of anybody. you look at the attack on his half-brother in malaysia when that

as he has with china? >> quite an interesting encounter. it has been a flat day on wall street. investors are fearing the worst, hoping for the best. trump has to confront a lot of complexities in this summit and investors fear he might do this in his usual quick-tempered, not quite diplomatic way. both countries have aced drawn interest -- have a strong interest in finding common ground. experts hope that the prospect of achieving this win-win installation might be more tempting than resentment. correspondent: investors also have their mind on economic data , what is coming out there? >> they goodness there is a little more than waiting on politicians every word. tomorrow wall street will pay it close attention to the u.s. data of the labor market and how it performed in march. next season the -- next week in the earnings season will start. did he morgan will be among the early birds. investors are already hoping for the next rally. brent: sophie in new york, thank you very much. the imf sees progress in

we didn't hold back on criticizing china when we weught china was wrong, but also think knowledge when they moved in a positive direction. we knew when we needed their assistance, it had to be from the perspective of how we can advance something in our two national interests. you have to be able to sort the two separately. something that has come up less since the president took office, the issue of currency manipulation. here you have china with a trade deficit. is that enough to declare china a currency manipulator, how cautious should the treasury proceed? jacob: if you look at the criteria that are considered, now part of the technical process, the key issue is are they taking actions to drive down the value of their currency to gain unfair advantage? the way you measure that is are they intervening in order to devalue their currency? year, china has been intervening to support the r&b. that makes it challenging to look at the current situation and reach a conclusion that there is currency manipulation. clearly, there is a transition underway from a very managed exchange rate to a

all that is china from the past. china of the last ten years and the next ten years, doesn't have any interest in dumping goods on the market. they are looking peacefully to moving to a more society. they see adjusting to the reality of the playbook. he questioned the one china policy. he backed off as he got better informed about the importance of that and the importance of the u.s.-china relationship. >> walk us through the matter of currency and currency manipulation. as i understand it, while the chinese currency is down, it's not down nearly as much as the japanese yen or the pound and has been appreciating recently? >> that's exactly right t. view that china is somehow manipulating its currency to the detriment of the u.s. or other markets is simply not true. if you want to point fingers, it's great u.s. allies like the japanese and the british who have seen 20, 25% depreciation of the currencies over the last year t. reality is the china is connected to a basket of currencies, the u.s. is the largest and gets

snooker player ding junhui is a superstar in china. in this documentary, we follow him with behind—the—scenes access as he plays in guangzhou at the china championship. if you want to know what it's like to be a sporting icon in a country with more than a billion people, ding junhui can tell you. there is the sense of national pride when you win a major tournament, there is the media attention — everyone wants to speak to you — a vast television audience watches every match to play. you get invited to glamorous events. your adoring friends are always thrilled to meet you. social media needs to be kept updated, with nearly 5 million people following you. there's also knowing that your success has helped spark a snooker revolution in china — the next generation of stars has been inspired to play because of you. and a new type of snooker luxury club is starting to open. it's the night before the start of the china championship. the world's top players and officials are gathering in the lobby of their hotel. they're waiting for t

have over china to push china to influence north korea? yes, the currency manipulator title that president trump is threatening to put over china. but there's reports that china hasn't been manipulating the yuan for a couple of years. president trump said i'll give you favorable trade status. figures came out about china's trade numbers, which were exceptional. >> yeah. i mean, economically speaking, china is doing okay. they had 6.9% gdp growth in the first quarter of 2017. it's unclear how much leverage the united states does hold over china. the fact is that china needs to export its manufactured goods to the united states. its biggest export market in order to make sure its economy is doing well. in that sense there is a little bit of leverage that the united states has. overall, we're not really sure exactly what the trump administration plans to do to get china to do what it wants to do, to use its economic leverage to force pyongyang to stop its nuclear weapons program. the president talking about defensive measures, anti-defense mi

many other countries manufacturing cheaper than china today, where wage rates are well below china. china is trying to move up the curve and saying with people come partner with us and build more effective and powerful -- >> peter brookes, as we try and deal with the brave new world where china is increasingly getting ahead, there's been a lot of things thrown out there as potential solutions to helping our domestic economy. one of them, of course, is the tax on any imports coming in. do you think that's a worthwhile policy to pursue? >> well, you have to take a look at that, china will resist that, of course. the president has to have a very matter of fact conversation with president xi about trade. i mean, as we were talking about the challenges of bringing back some manufacturing jobs -- trish: so what if he rejects it. peter, so what? fine, he resists it. i'm asking selfishly for our economy, is it the right thing, the best thing, what do you say peter kiernan? >> i think what we want to do is build a detente. these are two men that understand each other. donald trump wants to b

in china. they want to see what happens in france because, this election in france may be a lot closer than people think. most people think you will have two candidates in the first round. ton it will automatically go him. some polls that have come out in the last few days indicate that the second round may be a lot closer than people think. it think a lot of these are overhanging the market. the u.s. growth not being what people hoped it would be. happens in see what china. as i mentioned on your previous programs, the chinese are doing everything to stimulate the economy to keep it above six and a half percent, because they have the 19th party congress this fall. pick thehen they will thestanding committee of bureau, which is the number one in 14 issue for xi jinping. that.ave interest to keep do you thinke go, that the inflation numbers and what we see with bond yields is notthat the fed behind the curve with their rate cycle? with what i stick told you in the past couple of months. i think

construction in china. china's first quarter gdp saw a record number of starts in terms of long-term construction, so we are looking ahead to that. we will see how we at it is happening in terms of japan's komatsu and other construction makers in asia. yvonne: ramy inocencio on caterpillar. caterpillar is doing well in yvonne: asian market set to extend gains. that euro hangs on to its biggest advance since june. he pboc wants to control asset bubbles. yvonne: sansone's new phone suffers troubles. tinted screens and dodgy wi-fi. toty: north korea threatens attack an american war threat -- war ship. yvonne: this is the second hour of "daybreak asia." in hong kong. in newi am betty liu york. it is just after it :00 p.m. we had a big rally in the u.s. and we had financials leading the way. looking quickly at the open here in japan, looks like it is opening slightly in the negative. certainly some other factors to watch in asia aside from lingering risk of fact from the french collection -- election. yvonne: th

the president saying china can stop north korea's nuclear program. what's the united states -- >> reporter: sorry having issues with the earpiece, but this tweet and the statement president trump gave with the "financial times" is certainly -- well it's not phasing the chinese, they put out a statement a few hours ago saying during the overnight hours secretary of state tillerson had a chat with china's top diplomat and not mentioning at all any specific conversations about north korea. we know that the united states believes that china holds the key to reigning in north korea. they believe that china has economic leverage over the country they have not utilized but the bush administration also relied without success on china to solve the north korea problem, which is why president trump is saying the united states is prepared to go it alone, which means they might be willing to go at it alone, he said he would be willing to sit down and have a hamburger with kim jong-un as he said during the election campaign. the probably least likely according to

and china. i have not heard the trump administration saying anything regarding human rights in china until now. : that had not been included on the list of things the u.s. was likely to talk to the chinese about. obviously, the trade issues and north korea and the geopolitical questions, arms sales to taiwan by the u.s. and chinese ventures into the south china sea. the trump administration would like to achieve some agreements or some coming together on the other issues. oliver: i wonder if the events in syria brought that into focus as we deal with human rights and andss how the entire region our equivalence abroad will be going with that. equivalents abroad will be doing about that. mike: the easiest thing he can do is put up a chart of the chinese yuan. china has been doing its best to prop up the currency. that is the issue here. the chinese are not manipulating the currency to their advantage. they did. they are not doing that anymore. china has some issues they would like to settle with t

"china is not a currency manipulator." he didn't say anything about i'm not calling them a currency manipulator because they're helping out with north korea. just china is not a currency manipulator, and that's true. most experts believe that china has not been manipulating its currency for some time now. so there really is no justifiable reason for trying to label china a currency manipulator. but yesterday, the president felt the need to link his acceptance of the truth about china's currency to china's efforts with north korea. now, if you're a trump voter, and you want to believe that, what you have to believe is that the promise donald trump made to you to bring back american jobs from china by forcing china to stop manipulating its currency is being abandoned so that china will help stop the madness in north korea.

china. >> no longer take the excuses from china that they're concerned too, they need to show us, the only country that can stop north korea is china. china has to cooperate. this is now down to do we want to continue to see these ballistic attacks from north korea or does china want to do something about it. >>> let's bring in will ripley. good mortganing. how much influence do they really have over their nuclear program. >> reporter: did you notice the difference in messaging with president trump saying the u.s. will take action against north korea and nikki haley saying only china can stop north korea. when you talk about sanctions china has to enforce them because they are the only meaningful trading partner. preemptive military strike very unlikely although secretary tillerson didn't take it off the table when visiting here in asia but would create such a destabilizing scenario north korea would consider it an act of war, not something that the united states would probably do according

china. —— shape president trump's china policy. last time president xi visited the us he made the point that companies like boeing earn good money in china. but with economic growth slowing at home, he can ill afford a trade war with his biggest market, and he laughed to offer help for us exports and jobs. he can from this investment in deprived areas of the united states and promised trump he is bringing jobs to the united states. he's using north korea as an excuse to deploy aggressive strategic military assets closed china. he's using assets closed china. he's if deploy aggressive strategic military assets closed china. he's if mr she can then head off a trade war and temper mr trump's tweets on north korea, he'll call this florida summita triumph. korea, he'll call this florida summit a triumph. carrie gracie, bbc news. the highest court in england and wales has ruled that any parent who takes their child out of school during term time could be fined, or even face prosecution. a man from the isle of wight had argued he could ta

there is no doubt that china has greater leveraged over china because of its —— north korea because of its —— north korea because of its economic assistance. china has different influence on the potential and it is not willing to use that leveraged to bring north korea to its knees, for example. which is what we want. to force north korea to abandon its nuclear ambition. there is this trust at the basis of the relationship that limits china's ability to really influence north korean policies. china has been overly interventionist in north korea, a sink. —— they say. interventionist in north korea, a sink. -- they say. this is some kind of warning to china before the two leaders meet. do you think it will work and you think china will be more motivated to act after these words from president trump? one that would hope. there are some reports that in fact china's supposed cut on coal imports are not really put into effect. one would hope that china would in fact take these sanctions more seriously. the us could actually do a lot more. in that, i think the us underestimate its own

china should solve that problem for us. china should go into north korea. china is totally powerful as it relates to north korea. >> tonight the trump administration is threatening action in north korea. >> the era of strategic patience is over. >> now, this kind of talk is costing the president in the polls. a new gallup poll shows that 45% believe that donald trump keeps his promises. that's down from 62% in february. the resistance took to the streets this weekend over a violated promise by donald trump. >> if i decide to run for office, i'll produce my tax returns, absolutely. >> he of course went from saying he would release his tax returns to then as a candidate saying he would release his tax returns after an audit was complete, even though he has never provided any proof of that he was being audited. and then he stopped saying that he would release his tax returns under any circumstances. and it has now come to this. >> is the president going to release his 2016 tax returns, given that we can assume maybe that those are not themselves under audit? >

doing all of this to china. now he said, he said it on twitter over the weekend, i'm not gonna do that because they're gonna help us with north korea. china is taking a harder line with north korea. they've cut off imports from north korea. the only thing of value that comes out of north korea. china is taking a tougher role. if the president is successful in getting china to take more ownership of dealing with kim jong-un and the on going humanitarian crisis and problems in north korea, that would be an enormous victory. that's the name of the game. can you make china take control? >> sandra: as we read comments from the white house, i want to run this by. kenneth duberstein was on face the nation talking about the struggle within the white house, who's running things, the communication coming out of it. he was saying that the president needs to empower one person to run the white house. listen to this. >> the president needs to empower one person to be the white house chief of staff and the funnel rather than

activities in the south china sea. it's time for the u.s. to push back in the way we do sensitive operations in the pacific today. these operations should be regular, unpublicized, undertaken by discretion and should not be constrained by the promise of chinese good behavior on other issues. fifth and finally, we will not be able to tame chinese power without strengthening our friends and partners. there are diverse initiatives that are required for success and i'll flag a few. the united states should first begin to seriously think about working with its partners to replicate china's access and denial capabilities. the united states cannot afford to put off the aid and enhanced training to tehran for much longer as we out to urge military spending and reforming concepts of military operations. as a matter of national policy, we should affirm our strong support for trilateral corporation whether or not the united states is party to these activities. as kelly emphasized, we should not give up on the nations of southeast

americans buy more from china than china from america. here is a way to reduce that deficit, right? the story is that alibaba will deficit, right? the story is that aliba ba will host deficit, right? the story is that alibaba will host a conference to teach companies how to sell their goods. that is good. we are opening up goods. that is good. we are opening up the chinese on line market, which is the most important way of selling things in china. on line selling is afar things in china. on line selling is a far bigger part of the economy thanit a far bigger part of the economy than it even is in europe or the us. it is vitally important. but on the other side of the equation is that there are wealthy people in the cities in china where their incomes are much, much lower per capita. america has high value finished goods. the question is, does america... you can open up the market but if you don't have the right things to sell it is a little bit like windowdressing. but good windowdressing. the last story about webcams in chinese classrooms. it does not seem like a good idea. imagine

we believe china can do more. on behalf of the president, i am very grateful that even this week australia has taken steps to engage with china directly and encourage them to take more steps to bring that economic and the dramatic pressure to their. -- pressure to bear. make no mistake that the united states is committed to seeing this forward, in achieving what has eluded the low global --the world community for generations which is a nuclear free korean peninsula. >> justin from bluebird. >> thank you, -- justin from bloomberg. >> that you, mr. prime minister, what steps are you taking to improve trade after the president stepped out of ttp? mr. vice president, i want to follow up on north korea. some recent statements from the administration -- earlier, there was some controversy regarding the timing of an armada that the president has sent to the region which has led to mockery from the north korean and chinese media. they say it essentially underlies -- undermines the u.s. credibility. the president made a re

with or without help from china. how are these comments going to affect the high stakes meeting with the president littater thi week? we have cnn's will ripley joining us now from beijing. what do you know, will? >> reporter: i know that so far publicly, chinese officials do not seem fazed from the comments in "the financial times" from the president. they put out a politely worded statement saying there is was a conversation between secretary of state rex tillerson and the top diplomat. they talked about the importance of the meeting. these are two powerful world leaders with different approaching who will get together on a golf course of all places, considering that xi jinping has banned public officials from golfing here in china. the u.s. thinks china is the key to reining in north korea. for a long time, china argued the united states needs to engage with the north. they do not have the economic leverage they feel they do. i can tell you from traveling to north korea and talking to officials there. they say they

china is the largest position. great to have you. you have a 29 in china. within that, you have a 5% holding in tencent. tell us why it is part of this fund. is it really the fact that it is part of so many assets of the tech industry, the auto industry, that makes this company see so much potential? patricia: absolutely. tencent has been holding in the portfolio for a while. its ability to continue to grow and also take advantage of monetization. there are two really strong platforms. one is the gaming site. -- side. they have been really good at growing that. the other is social networking with we chat, as you mentioned before. going networking also fast in china. their ability to increase the number of users and then monetize on it. we had seen -- we have seen how it has grown in the past three years. we do expect it to continue to grow as well. yvonne: it seems tencent is a must-have in a lot of these funds that you do have. in fact, one of your own that you manage. will that continue to support the tencent price been? >> i believe so. their ability to

-china relationship. as we all know, donald trump, and some of his key advisers, have targeted china for a slew of what they characterize as unfair trade practices which they claim have stolen a million u.s. jobs. the rhetoric took something of a turn for the more dramatic, particularly after his election, when president-elect trump tabled the so-called one-china policy with the trade issues, perhaps as a bargaining chipping as part of a trade and economic negotiation. after some weeks that very tense turn in relations reached finally a sort of tenuous thaw, first with a call between president trump and president xi jinping of china, and most recently, of course, there was the first encounter, face-to-face, between the presidents at mar-a-lago on thursday and friday. so we're peeking right on the heels of that very important first meeting. of course there was changed quite dramatically in its complexion by the u.s. action in syria last week. we'll talk about the effect that had, among other things. in sho

because we look to china to solve this problem for but also we want to integrate china into the international system and gave it a much higher rarity than disarming north korea. this is a result of bad and american policy and then trumped, whatever people might think of him, they put trumpet into with physical position. -- they put trump into a very difficult position. an andy warhol portrait of chairman mao has been sold at auction in hong kong, to an asian collector. but the piece didn't quite manage to generate the frenzied level of bidding that had been anticipated. our hong kong correspondent juliana liu was there. 80 million... 82 million... at 86 million... and selling for $86 million. sold! when the hammer came down, this iconic painting of chairman mao was sold for $11 million. it was the first time a warhol depiction of the chairman had been offered at a public auction on chinese soil. the price, though, unexpectedly fell short of its lowest estimate. the absolute star of the auction was this piece by andy warhol. but the sale disappointed, the painting failed to fetch as much money